Of prime importance to every condominium owner and buyer is the financial condition of the condominium associations. Poor management can lead to drastic special assessments or a deterioration of the property. But good management (like that found at Montebello) can preserve the community's prestige, quality of life and infrastructure.
Montebello's annual budget often forecasts an operating income that rivals some small towns and rural counties. This budget is largely dedicated to current operating expenses such as regular maintenance and certain utilities.
In addition to current needs, Montebello will deposit over two million dollars in a reserve fund. The reserve fund is set aside to pay for long term capital items replacement and maintenance. Owners at Montebello can rest easy knowing that there is money set-aside for a new roof or new windows and doors when the need arises. Montebello's owner fees are some of the lowest in the Washington metropolitan area and range and are based on percentage ownership interest per unit. The owners' fees pay for
- water, sewer,
- extra storage,
- maintenance for the buildings, common areas, and grounds,
- recreational facilities including
- a bowling alley,
- picnic areas,
- exercise room,
- party room,
- indoor and outdoor pool,
- tennis courts,
- gated community.
For insurance questions, condo documents and more please contact:
Montebello Condominium Unit Owners Association
5905 Mount Eagle Drive
Alexandria, VA 22303